Equities research analysts at Davenport raised their earnings per share estimates on shares of Alcoa Inc. （NYSE: AA） in a research note to clients and investors on Monday. They are boosting their ’11 and ’12 EPS estimates to $1.12 and $1.40, respectively （from $1.05 and $1.32 previously） as a result of higher aluminum prices.
Separately, analysts at Goldman Sachs （NYSE: GS） raised their price target on shares of Alcoa Inc. to $14.00 in a research note to investors on Friday, December 17th. They now have a “neutral” rating on the stock.
Alcoa Inc. （Alcoa） is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The Company’s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 31 countries. Based upon the country where the point of sale occurred, the United States （U.S.） and Europe generated 52% and 27%, respectively, of Alcoa’s sales during the year ended December 31, 2009. In addition, Alcoa has investments and operating activities in Australia, Brazil, China, Iceland, Guinea, Russia, and the Kingdom of Saudi Arabia. Alcoa’s operations consist of four worldwide segments: Alumina, Primary Metals, Flat-Rolled Products, and Engineered Products and Solutions. In August 2010, the Company acquired Traco, a maker of windows and doors for the commercial building and construction market.
Shares of Alcoa Inc. （NYSE: AA） traded up 0.20% during mid-day trading on Tuesday, hitting $15.26. Alcoa Inc. has a 52 week low of $9.81 and a 52 week high of $17.60. The stock’s 50-day moving average is $13.94 and its 200-day moving average is $12.09. On average, analysts predict that Alcoa Inc. will post $0.24 EPS next quarter. The company has a market cap of $15.587 billion and a price-to-earnings ratio of N/A.
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